Lear Corporation (NYSE:LEA) Receives $138.00 Consensus Price Target from Brokerages

Lear Corporation (NYSE:LEA) has received an average recommendation of “Hold” from the fourteen ratings firms that are covering the stock, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $137.5833.

A number of analysts have recently issued reports on LEA shares. UBS Group lifted their price target on Lear from $135.00 to $145.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Morgan Stanley lifted their price target on Lear from $112.00 to $123.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Citigroup lifted their price target on Lear from $146.00 to $177.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Wall Street Zen upgraded Lear from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Finally, Royal Bank Of Canada assumed coverage on Lear in a report on Thursday, March 12th. They set a “sector perform” rating and a $135.00 price objective on the stock.

Lear Stock Performance

Shares of LEA opened at $118.24 on Tuesday. The company has a market cap of $6.00 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 0.85 and a beta of 1.24. The company has a current ratio of 1.35, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average price of $125.17 and a 200-day moving average price of $115.00. Lear has a 12-month low of $73.85 and a 12-month high of $142.84.

Lear (NYSE:LEA) last issued its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $3.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.74. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.78 billion. Lear had a return on equity of 13.40% and a net margin of 1.88%.The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $2.94 EPS. As a group, equities analysts forecast that Lear will post 12.89 earnings per share for the current fiscal year.

Lear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Thursday, March 5th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, March 5th. Lear’s dividend payout ratio (DPR) is currently 37.79%.

Insider Transactions at Lear

In related news, SVP Harry Albert Kemp sold 7,000 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $136.31, for a total transaction of $954,170.00. Following the transaction, the senior vice president directly owned 17,423 shares of the company’s stock, valued at approximately $2,374,929.13. This trade represents a 28.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Marianne Vidershain sold 1,590 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $135.00, for a total value of $214,650.00. Following the transaction, the vice president directly owned 1,862 shares in the company, valued at approximately $251,370. This represents a 46.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 25,264 shares of company stock valued at $3,400,687. 0.91% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lear

Large investors have recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new position in shares of Lear during the 4th quarter valued at about $25,000. Los Angeles Capital Management LLC purchased a new position in shares of Lear during the 4th quarter valued at about $30,000. Global Retirement Partners LLC raised its holdings in shares of Lear by 942.3% during the 4th quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock valued at $31,000 after buying an additional 245 shares in the last quarter. WealthCollab LLC purchased a new position in Lear in the 2nd quarter worth approximately $28,000. Finally, Allworth Financial LP increased its stake in Lear by 62.6% in the 3rd quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 119 shares during the period. 97.04% of the stock is owned by hedge funds and other institutional investors.

Lear Company Profile

Lear Corporation (NYSE: LEA) is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.